Michael Broughton (Altro (fka Perch))

Overview

Michael Broughton is an influential entrepreneur and the CEO of Altro (formerly known as Perch), a fintech company that focuses on providing an innovative solution for credit building using recurring payments such as rent and subscriptions. His work aims to break barriers to credit access for underserved communities, bringing financial power to a wider audience. Broughton's efforts have garnered significant attention and investment, notably from high-profile figures such as Jay-Z. Prior to launching Altro, Broughton was recognized as a Thiel Fellow and a Y Combinator graduate, enhancing his credibility and reach within the startup ecosystem.

Recent Developments

In recent years, Michael Broughton's company Altro has made notable strides and achieved significant milestones:

May 2022: Altro raised $18 million in Series A funding with a $50 million valuation. This funding round included investments from prominent firms and individuals, strengthening the company's financial foundation.
2023: Broughton was recognized as one of the leaders committed to financial inclusivity, emphasizing the mission to bring credit-building opportunities to historically underserved communities. This recognition came from varied sources, including governmental and non-profit organizations, validating Altro's social impact strategy.
March 2024: Altro expanded its services to 47 U.S. states, accommodating more users by allowing them to build credit with everyday expenses. This expansion reflected Altro’s commitment to broadening financial access and showcased the scalability of their platform.
2024: The company’s presence and popularity were further consolidated through strategic partnerships that helped integrate Altro’s services into larger financial ecosystems.

Personal Information

Attribute	Information
Full Name	Michael Broughton
Born	April 20, 1999 (?)
Nationality	American
Occupation	CEO, Entrepreneur
Known For	Founder of Altro, Disrupting Credit Building Systems
Net Worth	Not publicly disclosed
Education	University of Southern California (USC)

Early Life and Education

Michael Broughton grew up in a large, low-income family, which forced him to become financially independent at an early age. This personal experience deeply influenced his career path and later business ventures. During his university years at USC, Broughton encountered financial challenges, most notably being denied a student loan due to a lack of credit history. This denial motivated his mission to revolutionize credit-building systems, eventually leading to the creation of Altro.

Career and Notable Achievements

Michael Broughton embarked on a career path deeply influenced by his personal struggles with the credit system:

2019: Co-founded Perch (now Altro) to address credit access barriers.
2020: Participated in the Y Combinator accelerator, which provided crucial funding and mentorship.
2020: Awarded the Thiel Fellowship, which supports young individuals whose innovative projects aim to change the world.
2022: Successfully launched a groundbreaking credit-building app, gaining traction and positive reception from users and financial analysts alike.
2024: Expanded Altro's reach and conducted major fundraising rounds that attracted significant investor interest, including from Marcy Venture Partners.
Leadership Positions: Broughton has served as Vice Chairman for the USC Credit Union, where his leadership contributed to launching financial products for students.

Current Work and Impact

As of 2025, Michael Broughton continues to lead Altro, focusing on expanding its user base and enhancing the platform's capabilities to provide credit access to more users. Under his leadership, Altro has not only become a tool for credit building but also a transmitter of financial education, aiming to increase overall financial literacy among its users. Broughton's work is reshaping the financial landscape, specifically targeting the systemic barriers faced by marginalized communities.

Michael Broughton Net Worth

Michael Broughton's net worth is not publicly disclosed. However, his company Altro's valuation and successful funding rounds suggest his significant standing in the financial and entrepreneurial sectors.

Conclusion

Michael Broughton has carved a niche for himself as a pioneer in the fintech industry, focusing on democratizing financial tools and systems for those historically underserved by conventional banking. His innovative approach with Altro, coupled with strategic partnerships and community engagement, continues to redefine credit building for a modern audience. As Broughton and his company expand their influence, their impact on financial inclusivity promises to be profound, bridging gaps in an often exclusive sector.